The Minister responsible for Economic Affairs and Energy of the Federal Republic of Germany, Brigitte Zypries, has called for a re-look at some aspects of Ghana’s investment laws as the country gears up for economic and industrial transformation.

Delivering one of two keynote addresses at the Konrad-Adenauer-Stiftung Foundation’s German-Ghana Business Forum in Berlin Germany, the Minister called on President Akufo Addo and his government to take a second look at investment laws of Ghana if the new wave of German-Ghanaian Economic Relations is to see the full benefits of the business potential it presents.

Brigitte Zypries who has headed the Federal Ministry for Economic Affairs and Energy since 27 January 2017 and served as Federal Minister of Justice from 2002 to 2009 as well as Parliamentary State Secretary at the Federal Ministry for Economic Affairs and Energy, From December 2013 to the end of January 2017, says Ghana’s economic performance the last one year is quite impressive, however, her years of observing the Ghanaian economy informs her that for Ghana to attract the next level of investments, there is the need for some unfriendly investment laws to be reviewed.

President Akufo Addo

President Akufo Addo in the second of two keynote addresses indicated that he has taken notice of the suggestion by the Minister for a review of Ghana’s investment laws. The lawful processes the President assured, Will be initiated
for purposes of considering the investment laws of the country.

Additionally, he told the gathering that his Government has taken specific measures which will lead the country and its economy into the new digital age.

These include the introduction of an e-business registration system, a paperless port clearance system, a digital addressing system, a mobile interoperability system, and a national identification card system, all of which are designed to formalise the Ghanaian economy, reduce the cost of doing business, and facilitate interaction between businesses and their clients, particularly in a technology-driven era, where connectivity through digital services is an important element in achieving competitiveness.

“I am, thus, notifying the German Business community, to take advantage of the growing business-friendly climate in the country to invest in Ghana,” he said.

The President continued, “Our flagship policies of ‘One District, One Factory’, ‘One Village, One Dam’, and the ‘Programme for Planting for Food and Jobs’ map out areas of opportunity, which I commend to you, as I do areas in the development of renewable energy and ICT growth. We are particularly keen to receive German investment in the area of renewable energy, for reasons that are self-evident.”

Addressing the challenge of the country’s infrastructural deficit, he told the gathering that his government is embarking on an aggressive public private partnership programme to attract investment in the development of both the country’s road and railway infrastructure.

“We are hopeful that, with solid private sector participation, we can develop a modern railway network with strong production centre linkages and with the potential to connect us to our neighbours to the north, i.e. Burkina Faso, to the west, i.e. Cote d’Ivoire, and to the east, i.e. Togo. We believe that this is an area where German and European technology and expertise would be very welcome,” he said.

President Akufo-Addo was confident that Ghana is on the cusp of a new, bold beginning, which will repudiate the recent culture of failure.

“We are determined to lift our country out of the doldrums. We want to use all the blessings that the Almighty has bestowed on us to bring progress and prosperity to our people, in our time. The Black Star is poised to shine and shine again, for, truly, the project is Ghana Beyond Aid,” he added.

Konrad-Adenauer-Stiftung (KAS)

The Konrad-Adenauer-Stiftung (KAS) is a political foundation, closely associated with the Christian Democratic Union of Germany (CDU). As co-founder of the CDU and the first Chancellor of the Federal Republic of Germany, Konrad Adenauer (1876-1967) united Christian-social, conservative and liberal traditions. His name is synonymous with the democratic reconstruction of Germany, the firm alignment of foreign policy with the trans-Atlantic community of values, the vision of a unified Europe and an orientation towards the social market economy. His intellectual heritage continues to serve both as our aim as well as our obligation today. Freedom, Justice and Solidarity are the basic principles underlying the work of the KAS.

In its European and international cooperation efforts, KAS works for people to be able to live self-determined lives in freedom and dignity. They make a contribution underpinned by values to helping Germany meet its growing responsibilities throughout the world as well as encourage people to lend a hand in shaping the future along these lines. With more than 70 offices abroad and projects in over 120 countries, KAS makes a unique contribution to the promotion of democracy, the rule of law and a social market economy. To foster peace and freedom, KAS encourages a continuous dialog at the national and international levels as well as the exchange between cultures and religions.

We cooperate with governmental institutions, political parties, civil society organizations and handpicked elites, building strong partnerships along the way. In particular we seek to intensify political cooperation in the area of development cooperation at the national and international levels on the foundations of our objectives and values. Together with our partners we make a contribution to the creation of an international order that enables every country to develop in freedom and under its own responsibility. – Wilberforce Asare